The Kate Middleton baby bump will soon turn into the Kate Middleton baby economic mini-boom. Although the royal family has been cagey about the due date, the hugely pregnant Duchess of Cambridge has now retired from public display.
And most observers put the estimated time of baby’s arrival for sometime in the middle of July.
So it wasn’t too soon for researchers at the Centre for Retail Research to release their report on how Kate Middleton baby related spending will boost the UK economy.
Babies do sometimes get here early, you know. The arrival of Kimye on Saturday is a case in point.
Kate Middleton is a proven winner for the royal family in the past. The UK’s Telegraph said that her wedding cost over £5 million — almost $8 million US dollars (USD).
However, the wedding created an additional £10 million in ticket sales to the Queen’s London residence in Buckingham Palace to view her wedding dress. Extra ticket shop sales were £1.7 million — over $2.6 million USD. The profits went to the Royal Collection Trust which takes care of the royal family’s homes and art.
And that’s just one small example of how Kate Middleton’s wedding enhanced the royal family’s personal finances — and the British economy as a whole.
The Centre for Retail Research estimates cover the nine weeks from July 1 through August 31. They estimate the boost in British retail sales for baby items related to the royal birth.
According to their research, the total economic impact will be £87 million ($136 million USD) for parties and other festivities, £80 million ($125 million USD) for souvenirs and toys, and £76 million ($119 million USD) for media like books and DVDs.
That’s a mind-croggling total of £234 million — $380 million USD at the Tuesday morning rate of exchange between the two currencies.
The souvenir sales include items sold overseas. Will you be buying something as a memento of the birth of Kate Middleton’s baby?